SOURCE: Lithium Exploration Group, Inc.
SCOTTSDALE, AZ--(Marketwired - May 21, 2014) - Lithium Exploration Group (OTCQB: LEXG) announced today that it is adding an oil treater to its Tero Oilfield Services facility in Wardlow, Alberta. This expansion of the product offering at Tero is an important step toward providing a full suite of services for customers in the area. Tero is well-positioned to give its clients a competitively priced product, while providing a level of customer service with which the bigger companies in the area are unable to compete. The oil treatment product offering should be fully operational by July 2014. This expansion also coincides with Lithium Exploration Group's order of an oil upgrading unit, which is scheduled to arrive at Tero in August. The oil upgrading unit is expected to enhance the performance of the oil treatment infrastructure that Tero is putting in place with the previously mentioned expansion.
"This expansion is critical for the future of Tero. They already treat their own skim oil production, but with this expansion they will be able to handle loads from existing waste disposal clients. Our goal is to help our local clients by providing exceptional customer service, honest pricing, and, in almost all cases, we will be saving clients the expense of shipping to other treatment operation much further away," commented CEO Alex Walsh. "Our team at Tero have been researching this with contractors and existing clients for months and see a huge opportunity for additional revenue from their existing client list."
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB under the symbol LEXG. Website: www.lithiumexplorationgroup.com.
Safe Harbor Statement
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future testing of the ultrasonic technology.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.